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and that that, we can do that on a basis which won't increase the deficit. that was their position as i said for 99% -- >> but still his position -- >> hold on, joe, and you cannot do that as a mathematical matter without raising the tax burden on the middle class, it's not possible and all this debate about my studies and your studies is not possible, as bill clinton said at the democratic convention it's arithmetic. >> can we taxle the deficit without affecting the middle class? >> if i were vice president biden i'd put that back on the table and push it because it's too late to change your position 30 or 40 days before the election in a campaign that's gone, you know, for a year and a half. it's too late especially on an issue which you've been talking about every single day for those 18 months. it's too late. i'd take the view you can't change your position on something like that 30 days before the election, you can't change your position on repealing every fapset of obama ca facet of obama care or every facet of dodd-frank. we have a debate tonight, so to say nevermind, that doesn't wor
money, at some point something bad happens. >> 180% of gdp, their deficit. we're 9%. so always a good idea to spend more money than you're take manage to try to get out of a recession. that's where you're at right now. so what you're doing is a government telling you that there will be inflation, we're going to keep interest rates very low. what that does, it encourages corporations to invest. the corporation sitting there with $2 trillion on their balance sheets and what they have to do, they have to invest to create jobs. the government is saying you can leave it there and wait for a disaster, but if you do, it will go down in value 4% every year and, therefore, encourage people to lower the dollar. that makes products worth more. so we're trying to encourage people to build products and plants. >> we had lloyd blankfein and simpson and bowles talking about the fiscal cliff. this is what lloyd blankfein had to say. >> i'd be a buyer of the market. goldman sachs would -- we not only value company, we're a company ourselves. we would be assuming that our business would grow, that comp
a credible plan to reduce our budget deficit, that's delivering very low interest rates for us in the markets at the moment. so that is the proof that there's international confidence in our plan. >> gilt yields are slightly lower. we're waiting for spain of course to ask for a bailout. spanish yields are lower. and if they stay in those sort of levels, spain will ride their luck for as long as they can. back to you. >> i was with you on that, ross. your audio guy was sleeping there for a second. we were going to step in and help you, but that was -- it was the eads, that's very unsettling what's happening with the eads. very unsettling. i'm anxious about how that finally plays out. >> no delay. >> just flew right over ross. >> flew right over ross. we may eventually have really quick flights again. did you see this guy who is going to jump out of balloon? he'll break the sound barrier. but as you're falling, since there's no -- what keeps you at terminal velocity is the air. if there's no air, they think he'll he break the speed of sound. >> why is he doing this? >> because he can. >> yeah,
'm going to reduce deductions and make sure it's deficit neutral, but i'm not raising taxes on the middle class. and depending on how you look at that, it's hard to make that math add. >> said one other thing, people that are now on entitlements will not be affected at all. >> right. so if all of that -- whether it's the tax policy, i know we've talked about there's a view that it's biased, but everybody who has looked at these numbers i have not found somebody who said the math adds. >> baked into those -- >> it doesn't say the math adds, no, only at 100,000. if you consider -- you're making over $100,000 your taxes are going up. you consider those people middle class or not? >> taxes are going to go up on certain people when the deductions go out. >> but you can't say at the same time that not raising taxes on the middle class -- >> stop. he said something else, which is equally important. if we get rid of some of these stupid regulations that are impairing jobs. >> right. >> let me give you one -- >> that's an argument i accept to some degree. >> david farr, the ceo of emerson electric
should close all these loopholes and take that and take all the money and put it toward the deficit. now, there could be an argument for that, but i think the dangerous thing about him saying it is going and saying it to the national press club instead of being serious and working with the gang of eight and mark warner trying to reach some sort of agreement that you can bring both sides of the aisle to. going out there and saying stuff like that. it's incendiary. >> by the way -- >> are you trying to blame him for that? was there a camera? >> i just want to understand one thing, we clearly know that under obama, tax rates are going to go up at the top. >> obama care they are. >> well -- >> you think there's a misunderstanding among either romney supporters or a misunderstanding about romney's position on this issue? >> romney told everybody in the debate. he said if you're an upper income player, don't expect you're getting any help this time around. he said it. >> do you think people six months ago thought they were getting help? >> i think that was in their wheel house. >> but then the
Search Results 0 to 4 of about 5